MANILA, Philippines – Shares on the Philippine Stock Exchange traded sideways on Friday as local investors continued to temper their moves in the absence of clear market moving developments.
The PSE index clawed back losses of as much as 15 points to end the trading session at 3,077.18, representing a decline of only 0.6 points or 0.019 percent. A total of 1.4 billion shares changed hands for a value turnover of P2.4 billion.
Market watchers noted that big investors are still waiting on the sidelines in the first trading week of 2010, leaving the bulk of market action to speculative investors.
A total of 55 stocks moved higher, compared to 57 that declined, and another 55 that remained unchanged. Click here to read more...
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